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Thread: Obedience to five words

  1. Default Obedience to five words

    All of the talk about the economy is the most boring con job in the current campaign season. I work hard to keep the details out of my head. Thank God I never gave Herman Cainís economic plan an iota of space in my thinking. Does anyone who did dive into the details remember anything Cain proposed? Ditto the rest of them who came and went. The headlines on thousands of articles told me everything I needed to know.

    Bottom line: When it comes to the economy do not be fooled into believing there is a difference between Republican economic plans and Democrat economic plans. For all of the economic plans put out by politicians in both parties the federal governmentís economic policy can be summed up in five words: Wall Street must not crash. Every economic decision, every scheme to lower retail prices, every tax increase, every bailout, every stimulus package, every increase in the debt ceiling, ensures obedience to those five words.
    Flanders

    The basic test of freedom is perhaps less in what we are free to do than in what we are free not to do. It is the freedom to refrain, withdraw and abstain which makes a totalitarian regime impossible. Eric Hoffer

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  3. #2
    england us georgia
    Location: Brighton , UK
    Posts: 4,298
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    Quote Originally Posted by Flanders View Post
    Wall Street must not crash. Every economic decision, every scheme to lower retail prices, every tax increase, every bailout, every stimulus package, every increase in the debt ceiling, ensures obedience to those five words.
    It is too late .
    There is absolutely nothing that can prevent complete implosion . All that countries can do is delay matters .
    The recent Bail Out -- part two , for Greece , is an example .
    Greece has defaulted in every known sense of the word , except in one technical sense . That , and that alone , is all that it is keeping the implosion from starting on Monday .--- see separate Topic , "why Greece will bring down Wall Street"

  4. Default

    Quote Originally Posted by raymondo View Post
    It is too late .
    There is absolutely nothing that can prevent complete implosion . All that countries can do is delay matters .
    The recent Bail Out -- part two , for Greece , is an example .
    Greece has defaulted in every known sense of the word , except in one technical sense . That , and that alone , is all that it is keeping the implosion from starting on Monday .--- see separate Topic , "why Greece will bring down Wall Street"
    To raymondo: I donít agree. Iím not very knowledgeable about the mess in Europe, but I cannot see Wall Street being hurt if Greece goes under. The following indicates that the Administration sees it that way:

    No more U.S. dollars for International Monetary Fund, White House says
    by John Gizzi
    02/24/2012

    As the eurozone financial turmoil continues and talk of additional bailout money from the International Monetary Fund mounts again, the White House made clear this morning further U.S. contributions for the IMF are off the table.

    At the regular briefing for White House reporters today, Deputy Press Secretary Josh Earnest told HUMAN EVENTS that "additional American resources into the IMF... that is not something that is being considered right now."

    When we pressed Earnest further as to whether additional tax dollars for the IMF were truly "off the table," he replied without qualification: "That's correct."

    Reminding Earnest that the President said in 2009 that U.S. support for the financial titan was "woefully inadequate" and that Congress promptly voted for an additional $100 billion for the IMF at his urging, we asked the administration's position today on Rep. Cathy McMorris Rodgers' (R-Wash.) legislation to rescind that $100 billion appropriation and apply the unused funds to the deficit.

    "I'm not able to comment," Earnest replied, adding that he was unfamiliar with the measure offered by the congresswoman (which so far has 91 co-sponsors in the House).

    But he went on to emphasize the administration's belief that there needs to be a "strong European firewall" of funding in place to stop the crisis from spreading to other countries. In Earnest's words, "t]he support of resources offered by the IMF would not be a substitute for anything that the eurozone countries would collectively do." He also pointed out that this position was previously articulated earlier in the day by Secretary of the Treasury Tim Geithner when he was asked by reporters about the IMF.

    Earnest's appearance marked the first occasion in which he has filled in for Press Secretary Jay Carney.

    http://www.humanevents.com/article.php?id=49748
    Flanders

    The basic test of freedom is perhaps less in what we are free to do than in what we are free not to do. It is the freedom to refrain, withdraw and abstain which makes a totalitarian regime impossible. Eric Hoffer

  5. Default

    Quote Originally Posted by Flanders View Post
    To raymondo: I don’t agree. I’m not very knowledgeable about the mess in Europe, but I cannot see Wall Street being hurt if Greece goes under. The following indicates that the Administration sees it that way:

    No more U.S. dollars for International Monetary Fund, White House says
    by John Gizzi
    02/24/2012

    As the eurozone financial turmoil continues and talk of additional bailout money from the International Monetary Fund mounts again, the White House made clear this morning further U.S. contributions for the IMF are off the table.

    At the regular briefing for White House reporters today, Deputy Press Secretary Josh Earnest told HUMAN EVENTS that "additional American resources into the IMF... that is not something that is being considered right now."

    When we pressed Earnest further as to whether additional tax dollars for the IMF were truly "off the table," he replied without qualification: "That's correct."

    Reminding Earnest that the President said in 2009 that U.S. support for the financial titan was "woefully inadequate" and that Congress promptly voted for an additional $100 billion for the IMF at his urging, we asked the administration's position today on Rep. Cathy McMorris Rodgers' (R-Wash.) legislation to rescind that $100 billion appropriation and apply the unused funds to the deficit.

    "I'm not able to comment," Earnest replied, adding that he was unfamiliar with the measure offered by the congresswoman (which so far has 91 co-sponsors in the House).

    But he went on to emphasize the administration's belief that there needs to be a "strong European firewall" of funding in place to stop the crisis from spreading to other countries. In Earnest's words, "t]he support of resources offered by the IMF would not be a substitute for anything that the eurozone countries would collectively do." He also pointed out that this position was previously articulated earlier in the day by Secretary of the Treasury Tim Geithner when he was asked by reporters about the IMF.

    Earnest's appearance marked the first occasion in which he has filled in for Press Secretary Jay Carney.

    http://www.humanevents.com/article.php?id=49748

    two things you are forgetting!

    1) the US holds debt in the banks that hold greek debt so if those banks dont get paid by greece they in turn cant repay the american banks.

    2) many insurance companies hold credit default swaps against greek debt so if greece defaults those insurance companies have to pay out billions...effectively making those insurance companies insolvent.

    The banks and insurance companies are all inter connected...one goes and many will follow!
    Last edited by bacardi; Feb 27 2012 at 03:40 PM.

  6. Default

    Quote Originally Posted by bacardi View Post
    The banks and insurance companies are all inter connected...one goes and many will follow!
    To bacardi: If not now óó when? It has to come. Better it happens now so the blame is laid on tax & spend, socialistic, big government, policies where it belongs. If it happens in the future the global government crowd here and in Europe can blame everybody else while America continues to slide towards worldwide socialism. My only fear is that a collapse might not include the IMF and the World Bank; two United Nations agencies.

    Finally, a collapse is not the end of the world especially if America changes direction for the better.
    Flanders

    The basic test of freedom is perhaps less in what we are free to do than in what we are free not to do. It is the freedom to refrain, withdraw and abstain which makes a totalitarian regime impossible. Eric Hoffer

  7. #6
    england us georgia
    Location: Brighton , UK
    Posts: 4,298
    Blog Entries: 2

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    Quote Originally Posted by Flanders View Post
    [B] if America changes direction for the better.
    If you look at the American character as it is expressed through its behaviour , it is psychopathic .
    You can't change that brand . You take them outside and put a bullet in them .

  8. Default

    Husseinís Secretary of Energy Stephen Chu made my case. Economic policy is irrevocably determined by Wall Street. So long as retail prices rise the market goes up. Nothing raises prices across the board faster than gasoline prices. Every company traded on Wall Street that uses oil for transportation and manufacturing can justify higher retail prices whenever the price of oil goes up. Even small businesses get to raise their prices by blaming it on the cost of gasoline at the pump.

    And does anybody really believe that Hussein & Company want to get America off of fossil fuels? The green energy thing is a scam; an opportunity to send billions to crooks. Transforming this country to alternate energy technology is the most effective lie ever told. Only fools believe it; only government stooges tell it. The world runs on oil and will likely do so for at least the next three centuries. Even if America could stop using oil it would be the only country that did so. Everybody else would lap up the oil this country does not use.


    Energy Secretary Chu Admits Administration OK with High Gas Prices
    By Mark Whittington | Yahoo! Contributor Network Ė Wed, Feb 29, 201

    COMMENTARY | President Barack Obama's Secretary of Energy Stephen Chu uttered the kind of Washington gaffe that consists of telling the truth when inconvenient. According to Politico, Chu admitted to a House committee that the administration is not interested in lowering gas prices.

    Chu, along with the Obama administration, regards the spike in gas prices as a feature rather than a bug. High gas prices provide an incentive for alternate energy technology, a priority for the White House, and a decrease in reliance on oil for energy.

    The Heritage Foundation points out that hammering the American consumer with high gas prices to make electric and hybrid cars more appealing is consistent with Obama administration policy and Chu's philosophy. That explains the refusal to allow the building of the Keystone XL pipeline and to allow drilling in wide areas of the U.S. and offshore areas.

    The consequences of the policy are not likely to be of benefit to the Obama administration. The Republican National Committee has already issued a video highlighting the spike in gas prices and the failure of the administration to address the issue.

    Presidential candidate Newt Gingrich has issued a half-hour video touting an energy plan he claims would result in $2.50 a gallon gasoline. The plan is based on unfettered drilling for oil and gas instead of a reliance on green energy. Gingrich has also savaged Obama's touting of algae based biofuel as "weird."

    Chu has likely highlighted an issue Republicans are going to pick up and run with. Americans are not going to be appreciative of schemes to hit them in the wallet so the American economy can shift to green energy. Besides American traditional adherence to the free market, the idea of being fleeced by a deliberate government policy is likely to be greeted with anger.

    Add into the mix green energy fiascos like Solyndra, and Chu might well have kindled a full blown scandal.

    How the Obama administration reacts to the expected firestorm is open to question. Green energy is as part of its fundamental religion as is universal health care, another unpopular Obama policy. If it tries to bull ahead, the electorate will likely punish Obama and the Democrats. If it tries to backtrack, Obama looks weak and facilitating, and likely will still not appease gas strapped Americans experiencing price shock at the gas pump.

    http://news.yahoo.com/energy-secreta...193900713.html
    Flanders

    The basic test of freedom is perhaps less in what we are free to do than in what we are free not to do. It is the freedom to refrain, withdraw and abstain which makes a totalitarian regime impossible. Eric Hoffer

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